USDDex Company: Safe to Use ERC20 StableCoin Pegged to the US Dollar?
What Is USDDex?
USDDex is a New Stablecoin based on Ethereum ERC-20 standard. It provides users with decentralization, security, stability, and reliability in the volatile cryptocurrency market.
The stable coin is pegged to the US dollar, thus providing traders with the opportunity to change their money into cryptocurrency without the risk of price fluctuations, as is the norm in other cryptocurrencies.
Furthermore, the developers of the USDDex believe that this stablecoin would be the best alternative to traditional currencies and could enhance the mass adoption of cryptocurrencies in daily transactions. For example, employers can use USDDex to pay their employee salaries in a safe and transparent manner while consumers can use this stablecoin to make payments for their online purchases.
The popularity of stablecoins has been increasing over the years with the first five stablecoins in the market having a monthly trading volume of over $100 billion. USDDex will be no exception as it can be listed on both centralized and decentralized exchanges. The company behind USDDex has plans to list it on over 20 exchanges like HitBTC, Stellar, Changelly, and Bibox.
In addition, USDDex is compatible with major Ethereum wallets such as MetaMask, MyEtherWallet, Ledger, and Parity.
How USDDex Use ERC20 StableCoin Pegged to the US Dollar Works
The USDDex has a fixed price since it is pegged to the value of the US dollar; therefore, the price of one USDDex is always equal to one USD.
Every USDDex that a user owns is backed by in excess by collateral. This means that owners of this cryptocurrency do not have to worry about any price fluctuations regardless of the prevailing market conditions.
The Collateral portfolio is diversified with more than 800 trading pairs, which enables owners of USDDex to swap Ethereum, Bitcoin, XRP, EOS, Litecoin, or any other coin with USDDex. The diversified portfolio also enables multiple assets to guarantee the value of USDDex.
USDDex features an open-source code combined with a regular and comprehensive security audit ensures that the stablecoin has a high level of reliability. Apart from reliability, USDDex observes high levels of transparency by making it possible for anyone to view the information on the locked collateral that backs each stablecoin as well as its safety profile.
Advantages Of USDDex
USDDex is one of the few stablecoin in the cryptocurrency, by listing USDDex, exchanges will have the opportunity to provide customers with access to a trustworthy, secure and reliable cryptocurrency that they can uses as an alternative to the traditional fiat payment methods.
For Crypto Traders
Since USDDex has collateral backing, crypto traders are protected from the crypto market volatility that might result in losses. With USDDex, the crypto traders can move traditional fiat currency into cryptocurrency without exposure to Ethereum of Bitcoin.
The price stability that USDDex provides makes it possible for the stablecoin to be used for online purchases, escrow services and loan issuance or borrowing which results in adoption of cryptocurrencies in the economy.
For Financial Services
After purchasing USDDex, users will receive receipts and proof of ownership of the stablecoins. Moreover, as an incentive measure, investors who purchase the coins during the additional stage of coin sale will receive 45% bonus.